ISDS 1100 : ISDS 1102 Final Exam Study Guide

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Chapter 1: introduction: objectives: learn , how business uses statistics, the basic vocabulary of statistics, how to use microsoft excel with this book. Chapter 3: numerical descriptive measures: objectives: learn , to describe the properties of central tendency, variation, and shape in numerical data, to calculate descriptive summary measures for a population, to construct and interpret a boxplot. Variables: characteristics of an item or individual and are what you analyze when you use a statistical method. Data: the different values associated with a variable. Operational definitions: universally accepted meanings that are clear to all associated with an analysis. Population: all the items or individuals about which you want to draw a conclusion (the large group ) Sample: the portion of a population selected for analysis. A sample is a subset of the population. (the small group ) Parameter: a numerical measure that describes a characteristic of a population. Statistic: a numerical measure that describes a characteristic of a sample.

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